Bank of England Expected to Cut Interest Rates in 2024 to Aid Business Recovery Amid High Street Struggles
• Economists predict Bank of England will cut interest rates in 2024 to help businesses • Inflation expected to ease, with consumer confidence slowly returning • Cost of living and inflation forced closure of 6,400 stores and 37,000 retail job losses in 2023 • Asda Express and Poundland expanding with new store openings • Retail analysts cautious on high street recovery, predicting 2024 will still be challenging